NYC Building Owners Claim Conflict In $15.5M Appraisal

Law360, New York (August 16, 2012, 2:40 PM EDT) -- The owners of a 13-story apartment building in New York City filed suit in state court Monday to block an arbitration panel’s $15.5 million appraisal in June, claiming one of the arbitrators chose a low valuation because of a conflict of interest that violated his retainer agreement.

A group of families that collectively own 820 Broadway sued to vacate the appraisal of the building, located a few blocks from Union Square in Manhattan. An appraiser hired by the families, Bradley Mendelson, valued the building at $55...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.